Bowleven plc Spud of IE-4 well, Etinde, Cameroon (4567Z)

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RNS Number : 4567Z

Bowleven plc

31 August 2018

31st August 2018

Bowleven plc

('Bowleven' or 'The Company')

Spud of IE-4 well, Etinde, Cameroon

Bowleven, the Africa focused oil and gas company traded on AIM, is pleased to announce the spud of the IE-4 appraisal well at the Etinde block, Cameroon, by the block's operator, New Age Cameroon Offshore Petroleum SA ("NewAge").

The IE-4 well is the second of two appraisal wells to be drilled in 2018. The Etinde Joint Venture partners have contracted the Vantage jack-up rig "Topaz Driller" for this campaign. Drilling and logging operations of IE-4 is expected to take approximately 90 days in total with Schlumberger providing most of the drilling services.

The IE-4 well will target a previously undrilled sand package "Drillbit" of Intra-Isongo origin, which is believed to be analogous to the 410 sand package at the IM-5 location. Any discovery in this appraisal well could prove up or de-risk a further 0.2 to 0.6 tcf of resources (Drillbit, Bolt, Crowbar sites).

It is expected that it will be required to drill to -2840 meters True Vertical Depth Subsea ("TVDSS") to fully penetrate the prognosed reservoir targets. A further 50 meter rat hole will be required to allow for logging sump. Well Total Depth will be at -2890 meters TVDSS.

New Age is the operator of the Etinde field, with a 37.5% working interest. Bowleven and LUKOIL are partners with a 25% and 37.5% working interest respectively. The Company intends to announce the final well results after the end of drilling and testing operations.

 
 ENQUIRIES 
 For further information, please contact: 
 
 Bowleven plc 
 Eli Chahin, Chief Executive                 00 44 131 524 5678 
 
 Celicourt Communications Ltd 
 Mark Antelme                                00 44 207 520 9261 
 Henry Lerwill 
 
 Stockdale Securities Ltd (NOMAD and 
  Broker) 
 Robert Finlay                               00 44 207 601 6100 
 Antonio Bossi 
  David Coaten 
 

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August 31, 2018 10:05 ET (14:05 GMT)